[ACCESSWIRE]
Consolidated Spire Ventures Ltd ("Spire") (TSX.V: CZS) and Altair Ventures Incorporated ("Altair") (TSX-V: AVX) are pleased to provide further details of the imminent diamond drilling program on the South Discovery Zone of the Prospect Valley property in southern BC.
The Phase I drill program will consist of approximately 1,500 metres in 12-14 diamond drill holes designed to test the continuity of gold mineralization intersected in the South Discovery Zone in 2006 and 2007. Those programs included drill intercepts such as 50.6 metres of 1.36g/t gold in DDH 2006-21, 66.8 metres of 0.90g/t gold in DDH 2007-02 and 96.5 metres of 0.74g/t gold in DDH 2007-05. Should sufficient continuity exist, the results will be used to estimate an initial NI 43-101 compliant resource for the South Discovery Zone.
Previous drilling identified an extensive system of gold mineralization associated with disseminated pyrite in amygdaloidal basalts. The zone appears to strike northeasterly and dip moderately to the northwest and sits adjacent to a normal fault. Alteration within the mineralized zone is strong and consists of silicification, sericitization and hematization, while the rock below the fault is strongly chloritic and non gold-bearing.
A compilation of previous exploration data, including the recently completed infill soil sampling program shows that gold mineralization appears to correlate quite well with both soil geochemistry and Induced Polarization (IP) chargeability anomalies. As such, the new diamond drilling program will focus on the areas within the South Discovery Zone where these features are strongest. If this correlation can be better established then subsequent drill programs will test IP anomalies that appear to be deeper and have no surface expression through the soils.
The South Discovery Zone is part of a geochemical and geophysical anomaly extending nearly two kilometres in total strike length and up to 400 metres wide. The northeast trend appears to reflect the aforementioned fault that is spatially related to gold mineralization. The results of a magnetic survey flown over the property indicate that this trend continues to the northeast and also that several parallel features exist on the property. As no exploration has yet been conducted on these other trends, it is possible that they could reflect similar gold mineralized systems.
The Prospect Valley Gold Project is only 30km south of the world class Highland Valley Copper Mine, and sits within a complex tectonic zone that contains numerous deep-seated structures that could have provided the plumbing systems for mineralizing fluids. In many regions of the world, it is common to get large deposits of varying commodities occurring in near proximity to one another when the geological environment is sufficiently complex. High grade gold veins are known in the Prospect Valley area yet it is believed that this part of southern BC has not been explored for a low grade, bulk mineable epithermal gold system.
The Qualified Person for this news release is Mr. Warner Gruenwald, P.Geo. and VP Exploration for Altair Ventures Inc.
Altair has an option to earn up to a 90% interest in the 107.9 sq km Prospect Valley Property, situated within the Spences Bridge Gold Belt, approximately 3 hours driving time from Vancouver and one hour west of Merritt, BC.
Investors are invited to visit the Consolidated Spire Ventures Ltd. Website at www.spireventures.com or the Investor Hub at www.agoracom.com/ir/Consolidatedspire where they can post questions and receive answers. Alternatively, investors are able to e-mail all questions and correspondence to CZS@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
If you are not currently on the CZS updates list, please send in your email address to info@spireventures.com or call 604-662-7455 with the best method to keep you informed. We will send out regular updates and news releases to everyone who asks to be on the list.
FOR INFORMATION OR INVESTOR RELATIONS CONTACT THE COMPANY AT
(604) 662-7455 or www.agoracom.com/ir/Consolidatedspire
WEBSITE www.spireventures.com
ON BEHALF OF THE BOARD
Brian Buchanan, President and Director
This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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